Drury Hotels buys lot in heart of Bricktown (http://www.okctalk.com/content.php?r=540-Drury-Hotels-buys-lot-in-heart-of-Bricktown)

Drury Hotels has acquired a large surface parking lot at the southwest corner of Sheridan and Oklahoma Avenues in the center of Bricktown.


http://www.okctalk.com/images/pete/drury1.jpg


The privately-owned company based near St. Louis bought the .8 acre lot from local developer Don Karchmer for $4.5 million.

Karchmer had previously proposed a parking structure on the site and has retained ownership of the building at 4 E. Sheridan Ave. directly to the west, which is home to JE Dunn Construction and The Melting Pot restaurant.


http://www.okctalk.com/images/pete/drury3.jpg


Drury operates more than 150 hotels in 25 states but does not currently have any properties in Oklahoma. Brands include Drury Plaza Hotel, Drury Inn and Suites and Pear Tree Inn.

Although multiple calls to Drury headquarters were not returned, research reveals that in more dense urban areas the company often opts for the Plaza brand and builds from 6 to 10 stories.

Just two weeks ago, as a part of a deal with BancFirst in support of their purchase and the proposed renovation of the 36-story Cotter Ranch Tower, city council voted to sell land to Karchmer for a parking garage north of Main Street in Bricktown. The $1.4 million price tag for the 6 acres raised eyebrows after some claimed it was below market value. At roughly $234,000 per acre, the purchase is in sharp contrast to Karchmer's sale at $5.625 million per acre.

The sale of the lot at Sheridan and Oklahoma Avenues also calls into question the viability of the proposed Marriott Renaissance Hotel, which is planned directly to the east.


http://www.okctalk.com/images/pete/drury082518c.jpg


Given the current scarcity of parking in the area, speculation was that the new Marriott would need access to the once-proposed and immediately adjacent parking structure for their patrons and guests. After first moving rapidly through design approval and the permitting process, the Renaissance project completely stalled last year.

Drury's purchase comes at a time when hotel development in the urban core continues at a fever pace. See our comprehensive Downtown Hotel Summary (http://www.okctalk.com/showthread.php?t=35880&p=717600#post717600) for 26 hotel properties built or planned in the city core.


http://www.okctalk.com/images/pete/drury082518a.jpg

They've renovated some really cool historic urban hotels in places like Wichita and St. Louis so maybe we'll get something like that proposed for a new build in an urban historic district.

The Marriott might have to get creative and go with some underground or offsite parking.

i'm very happy to see this. even though i thought a well designed (with retail on first floor) parking garage was a great idea for this spot, i knew it would never live up to my expectations of what it could be. i'm very excited to see what they do with this space.

So, Karchmer bought this from the city and a month later sells it to Drury 2,400% increase in price? Sounds like the City has some explaining to do.

I can't help but believe we're reaching a saturation point (or more!) from having too many hotels downtown. I realize before buying/building on the downtown site that investors employ all due diligence. But yet it seems unlikely we have enough guests to OKC downtown areas do have so many hotels be profitable. Best wishes for them.....

So, Karchmer bought this from the city and a month later sells it to Drury 2,400% increase in price? Sounds like the City has some explaining to do.

I think he purchased a different piece of land if I am understanding correctly. He has owned this for a while now.

So, Karchmer bought this from the city and a month later sells it to Drury 2,400% increase in price? Sounds like the City has some explaining to do.

Not exactly, we're talking about two different lots. The one Karchmer bought from the City is farther north, on Main, immediately east of the BNSF railroad tracks. The one he just sold to Drury is a property he's owned for a long while at Sheridan and Oklahoma.

Very interesting news. I'm familiar with Drury; they are a great company, and I have long wondered when they would make their first foray into OKC. I'll be interested in their plans for that lot. They mostly do suburban, 3-5 floor, highway-type hotels. The article is correct that they have done urban properties (three in Downtown STL alone), but as far as I'm aware, those have all been conversions of existing buildings - renovations a la the Skirvin or Colcord.

The "Drury Plazas" mentioned are suburban new-builds, just bigger and taller than their typical floor plates. My guess is they would go the "Plaza" route in Bricktown regarding the size, although I doubt it would look like the "typical" Plaza.

Great scoop. By the way, the St. Louis Business Journal had an article this morning that Drury bought land in Minnesota for their first property there. No mention in the local press yet of OKC.

^

Drury would not return my calls. I suspect we won't hear anything from them for a while, or, now that this is out, they may end up speaking to those who call them now.

Also, my understanding is that Karchmer will continue to operate the lot for a while, effectively leasing back the property from Drury.

All I know is when my wife and I travel to Wichita, we always stay at the Drury, great place. We are headed there this December.

So, Karchmer bought this from the city and a month later sells it to Drury 2,400% increase in price? Sounds like the City has some explaining to do.
Completely untrue. Karchmer has been a part of the ownership of this property for decades and bought out other partners several years ago. It has never been owned by the City. The lot you are referring to is two blocks north.

Sorry if this post reads a bit cranky, but this was an easy topic to research before making a post that so casually calls into question the the ethics and practices of both the City and of a local businessperson. I understand that to some extent this site and many of its posters nobly aspire to be watchdogs, but passing bad info that calls people’s integrity into question without substance is terribly damaging to the community and to the site’s reputation.

And for the record OkiePoke that isn’t intended to be a personal slight; as far as I recall you’re a solid poster. It’s just that I cringe when I regularly see posts that jump to the worst possible conclusion. Lots of eyes watch this forum - not all of them as informed and discerning - and I think we all have at least a bit of responsibility when it comes to passing bad info or casually denigrating the players making things happen in our city, often at great personal and financial risk. As Pete has mentioned before, these are actual human beings in our community, not characters in a video game.

^

He just misunderstood.

The article clearly states the proper info and multiple people corrected him.

Ya, I didn't research if it was the same property or not. That is why I posed it as a question.

Still a discrepancy with land values though.

Traveling with two kids, we always try to stay at a Drury. Very family friendly, good breakfast, and the snack/dinner they offer is a great way to feed the kids. Even though the room might be a bit more than other hotels, we end up saving money eating breakfast and (often) dinner there.

I can't help but believe we're reaching a saturation point (or more!) from having too many hotels downtown. I realize before buying/building on the downtown site that investors employ all due diligence. But yet it seems unlikely we have enough guests to OKC downtown areas do have so many hotels be profitable. Best wishes for them.....

I was going to say the same thing. How many hotel rooms are too many hotel rooms. Go down there in the winter time during the week and it's not what I would call jumping. Even during thunder games during the week. Does anyone know the current occupancy rate for DT hotels. I think it's high right now but the more that come in the more that will go down.

Traveling with two kids, we always try to stay at a Drury. Very family friendly, good breakfast, and the snack/dinner they offer is a great way to feed the kids. Even though the room might be a bit more than other hotels, we end up saving money eating breakfast and (often) dinner there.

That's good to know. We usually seek out Embassy Suites when we're traveling with our daughter for those same reasons. It's good to have another option in Drury.

Drury routinely wins all types of JD Power awards for customer satisfaction.

I always look for a drury first when I'm traveling in their service area. Best overall value generally. Have always wondered why they skipped over Oklahoma on the way to Texas...

That's good to know. We usually seek out Embassy Suites when we're traveling with our daughter for those same reasons. It's good to have another option in Drury.
You also get a daily coupon for some free alcohol for each adult, like a glass of wine or bottle of beer, or a single mixed drink.

Traveling with kids, that’s sometimes needed!

You also get a daily coupon for some free alcohol for each adult, like a glass of wine or bottle of beer, or a single mixed drink.

Traveling with kids, that’s sometimes needed!

Agree! :)

When I was in high school we always stayed in Drury hotels when traveling for school. I felt like the hotels were always dated, so as an adult I've always steered clear. This has really made me re-think I should re-evaluate my negative opinion of their hotels.

Drury routinely wins all types of JD Power awards for customer satisfaction.

From what I hear, they will be a credit to the area. Long term plans for parking look problematic.

http://www.okctalk.com/images/pete/drury1.jpg

Does anyone know how the current agreement we have with the Omni hotel convention center would have on a Drury Hotel; a no hotel subsidies zone restriction covers what part of the core?

Depends on the size if Drury builds a hotel. OKC will move closer to 5,000 downtown hotel rooms come 2021. Our current downtown hotel (count includes proposed) is 4,682: http://www.okctalk.com/showthread.php?t=34292http://

Does anyone know how the current agreement we have with the Omni hotel convention center would have on a Drury Hotel; a no hotel subsidies zone restriction covers what part of the core?

No TIF money can be used for hotels and TIF covers all of Bricktown and downtown.

Now Chelinos really needs to upgrade their canal entrance. There will be zero parking up front and they will be facing the back of a building if this gets built.

When I was in high school we always stayed in Drury hotels when traveling for school. I felt like the hotels were always dated, so as an adult I've always steered clear. This has really made me re-think I should re-evaluate my negative opinion of their hotels.

I don’t know if I would call them dated, but I also wouldn’t call them modern. They definitely feel “mid-upper Midwest family chain” to me as far as style and decor goes. They win me over with value and service though.

With that said, we stayed at their hotel on the Riverwalk in San Antonio before, which was a converted bank tower (think 1st National Center), and they did a great job with the way everything looked and incorporated the old bank features very well.

I can't help but believe we're reaching a saturation point (or more!) from having too many hotels downtown. I realize before buying/building on the downtown site that investors employ all due diligence. But yet it seems unlikely we have enough guests to OKC downtown areas do have so many hotels be profitable. Best wishes for them.....

No idea. I’ve heard that we have way more hotel guests than you’d think, and with the new convention center we are going to have a lot more.

But even if we hit the saturation point, that opens up the possibility of some of the older hotels converting to housing. I think it’s win/win for the city.

^

He just misunderstood.

The article clearly states the proper info and multiple people corrected him.
I posted my response before I had scrolled through the replies; my mistake. My general point about leaping to the worst possible conclusions about officials and people in the business community still stands. It isn't healthy for dialogue here and I have appreciated the times when you have reminded the posting community here of such in the past.

How could we possibly still not have enough parking? Is it just in the wrong places? This is mostly rhetorical but damn seems like all the parking got built west of the CBD and to the east is where all the fun is minus 21C and Jones.

^^^^^^^^
I would assume the Drury (and possibly Renaissance, if still on track) would be able to valet and provide other parking in the new Karchmer Main Street garage, and I would guess that this transaction was specifically made possible by that transaction moving forward. One of many moving parts connected to that, to the Santa Fe sale, to the Cotter Ranch Tower sale, etc.

I would figure that with the rise of ride share and the streetcar the need for adjacent parking in the CBD and Bricktown decreases. Most of the people we have that visit our office only use Uber/Lyft when they travel. I have heard most people say that it is quicker and easier to use than renting a car. I would assume that it would be okay for the hotel to valet cars a few blocks away and their guest would be fine since they can use rideshare and the streetcar to move between the entertainment options.

Also, the last time my wife and I staid in CBD for a few nights, staying in the Colcord. They had a driver who would drive you as far as the Paseo and then come and pick you up when you were ready. We never had to ask for our vehicle until we checked out.

Yes, I read an article recently that said hotel parking demand nationwide has been reduced 30% by ride sharing services. Also, worth mentioning that of course many who stay in downtown and Bricktown hotels see the walkability as a huge assets. I routinely speak with visitors who are blown away by how walkable it is and remark that they haven't been in their cars at all. This while downtown as we all know is presently as impassable as it has ever been due to construction. So when the streetca is finished and other road construction diminished I think we will see a large percentage of visitors who never even bother to rent a car.

Imagine having a transit line from the airport to Bricktown...

Imagine having a transit line from the airport to Bricktown...

I still think the city should consider a direct bus line from downtown to the airport. Maybe make 1 stop at 15th and Meridian for those hotels. Doesn’t have to be a big city bus, but a small shuttle bus. I bet if it ran hourly from 5am-11pm it would generate good ridership. With hourly service and the average one-way time of 20 minutes, you wouldn’t need to buy a large fleet. 1 would cover the schedule. Your main costs would be operational (paying a driver and fuel).

Anytime I bring this up to the city they say “well we used to have bus to the airport but it averaged 2 riders a day”. They don’t get it, it also meandered through the city and took 45 minutes to get to the airport and had 2 dozen stops on the way. It also only ran 3 times a day and missed any peak travel times.

I still think the city should consider a direct bus line from downtown to the airport. Maybe make 1 stop at 15th and Meridian for those hotels. Doesn’t have to be a big city bus, but a small shuttle bus. I bet if it ran hourly from 5am-11pm it would generate good ridership. With hourly service and the average one-way time of 20 minutes, you wouldn’t need to buy a large fleet. 1 would cover the schedule. Your main costs would be operational (paying a driver and fuel).

Anytime I bring this up to the city they say “well we used to have bus to the airport but it averaged 2 riders a day”. They don’t get it, it also meandered through the city and took 45 minutes to get to the airport and had 2 dozen stops on the way. It also only ran 3 times a day and missed any peak travel times.

Bus lines are old news it needs to be rail with a few stops. Running from downtown to airport nonstop.

I'm okay with either, but the rail line is less likely to be taken away and more likely to be used.

I've never felt that a Drury Inn was ever "modern" by any means. They definitely go with the old school sort of early 90's new home vibe. But they have still always been nice. They were VERY similar to a Hampton of that time.

But i can say that it was always the most comfortable mattress of any hotel i've ever stayed at in my life. I wanted to take that thing home with me! That one was in St Louis.

I don't care if the place has modern carpet and crap either. If it's nice/clean/etc, then that's good for me. I've always been disappointed that there aren't more of them in areas i travel to. Since they are midwestern, i don't normally go somewhere that one is around. I remember the service being good too. OK, and this is weird, but i really like their bath soap. It was more like Dove than the crappy normal hotel stuff.

I just want wherever I stay to be clean and free of bedbugs. :)

We stay at the Drury Plaza Hotel in Santa Fe, NM often. They bought an old historical hospital on the edge of the Plaza and renovated it into a beautiful hotel.

Have stayed there twice. Had wondered if it was a new build or a restoration.

This was posted elsewhere...

Drury now has this property for sale.

Asking $4.5 million which is what they paid for it in 2018.

Bump:

Hotel project revived, triggering potential savior for blighted Bricktown Canal property

https://www.oklahoman.com/story/news/2022/01/16/okc-hotel-bricktown-project-revived-triggering-potential-savior-blighted-bricktown-canal-property/9154632002/

"Zach Martin, whose company ADEPT was brokering the property at the corner of Sheridan and Oklahoma Avenues, said the listing was pulled after being told they once again planned to build a hotel on the site. "

^

They probably saw the proposal by Dream and realized they had a much better location.

Hopefully we get a decent development, the new branding of Drury Hotels are pretty nice.

Drury does a nice job and that large surface lot is a huge hole right in the middle of Bricktown.

If they were to build, Sheridan would have a nice streetwall.

I think the success of Omni has a lot of hotel developers moving forward to build hotels in the immediate area. Not that we need more hotels, would rather see housing. But better than surface parking lots I guess.

Maybe then the city will fix the road on Sheridan. I'd love to see those pink bushes replaced with actual trees too.

^^^^^^^
Tree replacement on Sheridan is being actively worked on by some Bricktown stakeholders.

Something like Drury Milwaukee would be a nice addition to Bricktown. Nothing flashy but just real solid infill. I imagine that the Dream Hotel site will feature higher-end exterior finishes.

https://cms.druryhotels.com/media/464321/0183_exterior-06.jpg?anchor=center&mode=crop&width=659&height=422&rnd=132277269280000000

Reading the article, this seems kind of sketchy. Wonder who the other hotel partner was.

Something like Drury Milwaukee would be a nice addition to Bricktown. Nothing flashy but just real solid infill. I imagine that the Dream Hotel site will feature higher-end exterior finishes.

https://cms.druryhotels.com/media/464321/0183_exterior-06.jpg?anchor=center&mode=crop&width=659&height=422&rnd=132277269280000000
That building was a renovation. Most all of the drury hotels that are decent are renovations. They have come out with a new "modern" approach in their design choices. Here's the recent Nashville hotel. Not saying this is crazy attractive but it's 10x better than the older design drury hotels.
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I've never stayed at a Drury but the name sorta depresses me, reminds me of the "Dreary Hotel". :)

I've never stayed at a Drury but the name sorta depresses me, reminds me of the "Dreary Hotel". :)

Seriously?
Love those hotels, have the best night time meals with drinks hands down

You must be a cheap date haha :wink:

I should note, I didn't mean that the Drury is sketchy. What seemed sketchy was if this is actually happening based on the reporting. Seems kind of iffy.

Hopefully they build an underground parking garage connected with an underground tunnel. This is a win win for the area. They also need to get ParcFirst going. This along with the the dream hotel. Good stuff.

I should note, I didn't mean that the Drury is sketchy. What seemed sketchy was if this is actually happening based on the reporting. Seems kind of iffy.

I think it is pretty real because A. They pulled the property off the market and B. Don Karchmer bought the property next door in order to guarantee parking for his other tenants who will lose parking when the Drury is built.

That building was a renovation. Most all of the drury hotels that are decent are renovations. They have come out with a new "modern" approach in their design choices. Here's the recent Nashville hotel. Not saying this is crazy attractive but it's 10x better than the older design drury hotels.
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Drury built a nice brand new build in Richardson, Tx that we stay at regularly when visiting my elderly parents. We really like it:

https://www.druryhotels.com/locations/dallas-tx/drury-plaza-hotel-dallas-richardson

This would look really nice in Bricktown.

Drury built a nice brand new build in Richardson, Tx that we stay at regularly when visiting my elderly parents. We really like it:

https://www.druryhotels.com/locations/dallas-tx/drury-plaza-hotel-dallas-richardson

This would look really nice in Bricktown.

It's a nice facility, but personally I would like to see more brick for it to be located in Bricktown. Especially given it's proximity to the canal. Just my two cents, but something like that in Deep Deuce or Midtown would be gorgeous!